Gautam Shantilal Adani is an Indian billionaire businessman. He is the chairman and founder of Adani Group, a multinational company involved in port development and operations in India. His net worth is estimated to be $86.7 billion as of November 16, 2024, making him the second richest person in Asia and 18th richest in the world. In 2022, he was listed by Times Magazine as one of the 100 most influential people in the world.
Gautam Adani was born in June 1962 in Ahmedabad, Gujarat, India to Shantilal and Shantaben Adani.
Gautam Adani was born in June 1962 into a Gujarati Jain family. His parents, Shantilal and Shantaben Adani, were originally from Tharad, Gujarat, and his father was a textile merchant.
In 1978, Gautam Adani moved to Mumbai to work as a diamond sorter.
In 1981, Gautam Adani began managing a plastics unit in Ahmedabad, owned by his brother, marking his entry into the business world.
Gautam Adani started importing primary polymers for small-scale industries in 1985.
Adani Exports, later renamed Adani Enterprises, was established in 1988, initially dealing in agricultural and power commodities.
In 1991, following economic liberalization policies in India, Adani expanded his business into trading metals, textiles, and agro products.
In 1994, the Gujarat government announced the managerial outsourcing of Mundra Port.
Gautam Adani set up the first jetty at Mundra Port in 1995.
In 1995, Gautam Adani secured the contract for the management of Mundra Port.
Adani Power, the power business arm of the Adani Group, was founded in 1996.
In January 1998, Gautam Adani and his associate, Shantilal Patel, were reportedly kidnapped and held for ransom.
In 2002, Gautam Adani was briefly arrested following a cheating complaint, which was later resolved.
In 2002, following criticism of Narendra Modi's handling of the Gujarat riots by the Confederation of Indian Industry (CII), Gautam Adani and other local businessmen formed a rival organization called the Resurgent Group of Gujarat (RGG). Adani served as the chairman of the group.
Gautam Adani entered the power generation business in 2006.
On November 26, 2008, Gautam Adani was having dinner at the Taj Mahal Palace Hotel in Mumbai when it was attacked by terrorists. Adani was in close proximity to the attackers but managed to escape unharmed by hiding in the hotel's kitchen and restroom.
Between 2009 and 2012, Adani acquired Abbot Point Port in Australia and the Carmichael coal mine in Queensland.
In 2012, Gautam Adani acquired the Carmichael coal mine in Queensland, Australia.
In 2012, an Indian government auditor accused then-Gujarat Chief Minister Narendra Modi of providing Adani and other businesspeople with low-cost fuel from a state-run gas company, raising concerns about cronyism and favoritism.
In 2012, the Serious Fraud Investigation Office (SFIO) filed a charge sheet against Gautam Adani and others for cheating and criminal conspiracy related to share transactions.
In May 2014, a Mumbai court discharged Adani and other accused in the SFIO case, a decision later overturned in 2020.
In 2018, two former gangsters accused of kidnapping Gautam Adani and Shantilal Patel in 1998 were acquitted by an Indian court after Adani and Patel failed to appear for depositions despite multiple summons.
In May 2020, Adani Green won the world's largest solar bid, worth US$6 billion, from the Solar Energy Corporation of India.
In September 2020, Adani acquired a 74% stake in Mumbai International Airport.
In 2020, a Mumbai sessions court overturned the earlier discharge of Gautam Adani in the SFIO case.
In February 2022, Gautam Adani became the richest person in Asia.
In May 2022, the Adani family acquired Ambuja Cements and its subsidiary ACC from Holcim Group for $10.5 billion.
By August 2022, Gautam Adani was ranked the 3rd richest person in the world by Fortune.
In August 2022, Adani Group's AMNL unit announced its plan to acquire a majority stake in NDTV, raising concerns about editorial independence.
By December 2022, Adani was reported to control the largest shareholding in NDTV.
In 2022, Gautam Adani was included in the Times Magazine's list of the 100 most influential people in the world.
In January 2023, Adani Group was accused of stock manipulation and fraud by Hindenburg Research.
In January 2023, the Hindenburg Research report accusing Adani Group of stock manipulation led to a significant drop in the company's stock value.
In February 2023, the follow-on public offering of Adani Enterprises was cancelled following the Hindenburg report and subsequent stock market reactions.
In August 2023, the Organised Crime and Corruption Reporting Project (OCCRP) published a report alleging that the Adani Group used individuals and front companies to manipulate its stock prices, bypassing Indian securities laws. The report identified two individuals, Nasser Ali Shaban Ahli and Chang Chung-Ling, as being involved in the scheme, handling hundreds of millions of dollars worth of Adani Group stock.
By October 2023, Gautam Adani's net worth had declined by over 50% to an estimated US$54.2 billion, dropping him to 23rd place on the Forbes Real Time Billionaires list.
In January 2024, the Supreme Court of India resolved the Adani Group stocks dispute arising from the Hindenburg Research allegations, dismissing requests for further investigation.
As of November 2024, Gautam Adani was ranked the 18th richest person in the world and the second richest in Asia, with a net worth of $86.7 billion.
On November 20, 2024, Gautam Adani was indicted by the U.S. Attorney's Office in Brooklyn, New York on charges of bribery and concealing the scheme from American investors.
The stock market is where buyers and sellers trade stocks...
India officially the Republic of India is a South Asian...
Australia officially the Commonwealth of Australia encompasses the Australian mainland...
Stocks are restraining devices primarily for the feet historically used...
A supreme court or court of last resort is the...
September is the ninth month of the year in the...
32 minutes ago Nolan Arenado hits 350th home run, joining elite group considered for Cooperstown.
32 minutes ago Fluminense vs Ulsan Hyundai: Lineups revealed for FIFA Club World Cup match.
20 hours ago Jack Nicholson's disliked movie, films he regrets, and Eric Dane's career help.
32 minutes ago Pozo and Contreras lead Cardinals over White Sox in Doubleheader Game 1 Victory.
33 minutes ago Justin Gaethje eyes UFC championship fight after perceived snub, Fiziev reacts.
2 hours ago Heliot Ramos Hits Solo and Two-Run Homers Despite Giants' Loss
Sergio Gor is a Maltese American businessman and political operative...
Cristiano Ronaldo often called CR is a Portuguese professional footballer...
The Boeing Dreamliner is an American wide-body airliner developed by...
Kristi Noem is an American politician and Air Force Auxiliary...
Benjamin Netanyahu is a prominent Israeli politician currently serving as...
Kash Patel is an American lawyer and former federal prosecutor...